Intrinsic value of Planet Fitness Cl A - PLNT

Previous Close

$23.53

  Intrinsic Value

$4.68

stock screener

  Rating & Target

str. sell

-80%

  Value-price divergence*

-89%

Previous close

$23.53

 
Intrinsic value

$4.68

 
Up/down potential

-80%

 
Rating

str. sell

 
Value-price divergence*

-89%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of PLNT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.20
  9.60
  9.14
  8.73
  8.35
  8.02
  7.72
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
Revenue, $m
  378
  414
  452
  492
  533
  575
  620
  666
  714
  764
  815
  869
  925
  984
  1,044
  1,108
  1,173
  1,242
  1,314
  1,388
  1,467
  1,548
  1,633
  1,722
  1,815
  1,913
  2,015
  2,122
  2,233
  2,350
  2,473
Variable operating expenses, $m
 
  63
  67
  71
  76
  81
  85
  90
  96
  101
  107
  95
  101
  107
  114
  121
  128
  136
  143
  152
  160
  169
  178
  188
  198
  209
  220
  232
  244
  257
  270
Fixed operating expenses, $m
 
  216
  222
  227
  233
  239
  245
  251
  257
  264
  270
  277
  284
  291
  298
  306
  313
  321
  329
  337
  346
  354
  363
  372
  382
  391
  401
  411
  421
  432
  443
Total operating expenses, $m
  263
  279
  289
  298
  309
  320
  330
  341
  353
  365
  377
  372
  385
  398
  412
  427
  441
  457
  472
  489
  506
  523
  541
  560
  580
  600
  621
  643
  665
  689
  713
Operating income, $m
  116
  135
  163
  193
  224
  256
  290
  325
  361
  399
  439
  498
  541
  585
  632
  681
  732
  785
  841
  900
  961
  1,025
  1,092
  1,162
  1,236
  1,313
  1,394
  1,479
  1,568
  1,662
  1,760
EBITDA, $m
  148
  175
  206
  238
  271
  305
  341
  379
  418
  459
  501
  545
  591
  639
  689
  742
  796
  853
  913
  975
  1,041
  1,109
  1,181
  1,256
  1,335
  1,417
  1,504
  1,595
  1,690
  1,791
  1,896
Interest expense (income), $m
  24
  28
  23
  26
  30
  34
  38
  42
  47
  51
  56
  61
  66
  71
  77
  83
  89
  95
  101
  108
  115
  123
  131
  139
  147
  156
  165
  175
  185
  196
  207
Earnings before tax, $m
  90
  107
  141
  167
  194
  222
  252
  283
  315
  348
  383
  437
  475
  514
  555
  599
  644
  691
  740
  791
  845
  902
  961
  1,023
  1,089
  1,157
  1,229
  1,304
  1,383
  1,466
  1,553
Tax expense, $m
  19
  29
  38
  45
  52
  60
  68
  76
  85
  94
  103
  118
  128
  139
  150
  162
  174
  186
  200
  214
  228
  244
  260
  276
  294
  312
  332
  352
  373
  396
  419
Net income, $m
  22
  78
  103
  122
  142
  162
  184
  206
  230
  254
  279
  319
  347
  375
  405
  437
  470
  504
  540
  578
  617
  658
  702
  747
  795
  845
  897
  952
  1,010
  1,070
  1,134

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  40
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,001
  1,096
  1,196
  1,301
  1,409
  1,522
  1,640
  1,762
  1,889
  2,020
  2,157
  2,300
  2,448
  2,602
  2,763
  2,930
  3,104
  3,286
  3,475
  3,673
  3,880
  4,095
  4,321
  4,556
  4,803
  5,061
  5,330
  5,613
  5,908
  6,218
  6,542
Adjusted assets (=assets-cash), $m
  961
  1,096
  1,196
  1,301
  1,409
  1,522
  1,640
  1,762
  1,889
  2,020
  2,157
  2,300
  2,448
  2,602
  2,763
  2,930
  3,104
  3,286
  3,475
  3,673
  3,880
  4,095
  4,321
  4,556
  4,803
  5,061
  5,330
  5,613
  5,908
  6,218
  6,542
Revenue / Adjusted assets
  0.393
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
  0.378
Average production assets, $m
  323
  353
  386
  419
  454
  491
  529
  568
  609
  651
  696
  742
  789
  839
  891
  945
  1,001
  1,060
  1,121
  1,184
  1,251
  1,320
  1,393
  1,469
  1,549
  1,632
  1,719
  1,810
  1,905
  2,005
  2,109
Working capital, $m
  8
  -27
  -30
  -32
  -35
  -38
  -41
  -44
  -47
  -50
  -54
  -57
  -61
  -65
  -69
  -73
  -77
  -82
  -87
  -92
  -97
  -102
  -108
  -114
  -120
  -126
  -133
  -140
  -147
  -155
  -163
Total debt, $m
  709
  563
  654
  747
  845
  947
  1,053
  1,163
  1,277
  1,395
  1,519
  1,647
  1,780
  1,919
  2,064
  2,214
  2,371
  2,534
  2,705
  2,883
  3,069
  3,263
  3,466
  3,678
  3,900
  4,131
  4,374
  4,628
  4,894
  5,173
  5,465
Total liabilities, $m
  1,132
  986
  1,077
  1,170
  1,268
  1,370
  1,476
  1,586
  1,700
  1,818
  1,942
  2,070
  2,203
  2,342
  2,487
  2,637
  2,794
  2,957
  3,128
  3,306
  3,492
  3,686
  3,889
  4,101
  4,323
  4,554
  4,797
  5,051
  5,317
  5,596
  5,888
Total equity, $m
  -131
  110
  120
  130
  141
  152
  164
  176
  189
  202
  216
  230
  245
  260
  276
  293
  310
  329
  348
  367
  388
  410
  432
  456
  480
  506
  533
  561
  591
  622
  654
Total liabilities and equity, $m
  1,001
  1,096
  1,197
  1,300
  1,409
  1,522
  1,640
  1,762
  1,889
  2,020
  2,158
  2,300
  2,448
  2,602
  2,763
  2,930
  3,104
  3,286
  3,476
  3,673
  3,880
  4,096
  4,321
  4,557
  4,803
  5,060
  5,330
  5,612
  5,908
  6,218
  6,542
Debt-to-equity ratio
  -5.412
  5.140
  5.460
  5.750
  6.000
  6.220
  6.420
  6.600
  6.760
  6.910
  7.040
  7.160
  7.270
  7.370
  7.470
  7.560
  7.640
  7.710
  7.780
  7.850
  7.910
  7.970
  8.020
  8.070
  8.120
  8.160
  8.210
  8.250
  8.280
  8.320
  8.350
Adjusted equity ratio
  -0.178
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  22
  78
  103
  122
  142
  162
  184
  206
  230
  254
  279
  319
  347
  375
  405
  437
  470
  504
  540
  578
  617
  658
  702
  747
  795
  845
  897
  952
  1,010
  1,070
  1,134
Depreciation, amort., depletion, $m
  32
  40
  42
  45
  47
  49
  52
  54
  57
  59
  62
  48
  51
  54
  57
  61
  64
  68
  72
  76
  80
  85
  89
  94
  99
  105
  110
  116
  122
  129
  135
Funds from operations, $m
  92
  118
  145
  166
  188
  211
  235
  260
  286
  314
  342
  366
  397
  429
  463
  497
  534
  572
  612
  654
  697
  743
  791
  841
  894
  949
  1,007
  1,068
  1,132
  1,199
  1,269
Change in working capital, $m
  -17
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
Cash from operations, $m
  109
  121
  148
  169
  191
  214
  238
  263
  290
  317
  345
  370
  401
  433
  467
  502
  538
  577
  617
  659
  702
  748
  797
  847
  900
  956
  1,014
  1,075
  1,139
  1,207
  1,277
Maintenance CAPEX, $m
  0
  -21
  -23
  -25
  -27
  -29
  -31
  -34
  -36
  -39
  -42
  -45
  -48
  -51
  -54
  -57
  -61
  -64
  -68
  -72
  -76
  -80
  -85
  -89
  -94
  -99
  -105
  -110
  -116
  -122
  -129
New CAPEX, $m
  -15
  -31
  -32
  -34
  -35
  -36
  -38
  -39
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -59
  -61
  -64
  -67
  -70
  -73
  -76
  -79
  -83
  -87
  -91
  -95
  -100
  -105
Cash from investing activities, $m
  -15
  -52
  -55
  -59
  -62
  -65
  -69
  -73
  -77
  -82
  -86
  -91
  -96
  -101
  -106
  -111
  -117
  -123
  -129
  -136
  -143
  -150
  -158
  -165
  -173
  -182
  -192
  -201
  -211
  -222
  -234
Free cash flow, $m
  94
  69
  93
  111
  129
  149
  169
  190
  212
  235
  259
  279
  306
  333
  361
  391
  422
  454
  488
  523
  560
  599
  639
  682
  726
  773
  822
  874
  928
  985
  1,044
Issuance/(repayment) of debt, $m
  224
  -146
  90
  94
  98
  102
  106
  110
  114
  119
  123
  128
  133
  139
  144
  150
  157
  164
  171
  178
  186
  194
  203
  212
  222
  232
  243
  254
  266
  279
  292
Issuance/(repurchase) of shares, $m
  -1
  163
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  84
  17
  90
  94
  98
  102
  106
  110
  114
  119
  123
  128
  133
  139
  144
  150
  157
  164
  171
  178
  186
  194
  203
  212
  222
  232
  243
  254
  266
  279
  292
Total cash flow (excl. dividends), $m
  178
  86
  183
  205
  227
  250
  275
  300
  326
  354
  383
  408
  439
  471
  506
  541
  578
  617
  658
  701
  746
  793
  842
  894
  948
  1,005
  1,065
  1,128
  1,194
  1,263
  1,336
Retained Cash Flow (-), $m
  116
  -241
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -154
  173
  194
  216
  239
  263
  288
  314
  341
  369
  393
  424
  456
  489
  524
  561
  599
  639
  681
  725
  771
  820
  870
  924
  979
  1,038
  1,100
  1,164
  1,232
  1,304
Discount rate, %
 
  13.50
  14.18
  14.88
  15.63
  16.41
  17.23
  18.09
  19.00
  19.95
  20.94
  21.99
  23.09
  24.24
  25.46
  26.73
  28.07
  29.47
  30.94
  32.49
  34.11
  35.82
  37.61
  39.49
  41.47
  43.54
  45.72
  48.00
  50.40
  52.92
  55.57
PV of cash for distribution, $m
 
  -136
  133
  128
  121
  112
  101
  90
  78
  66
  55
  44
  35
  27
  20
  15
  11
  7
  5
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Planet Fitness, Inc., through its subsidiaries, franchises and operates fitness centers. It operates through three segments: Franchise, Corporate-owned stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, and the Dominican Republic. The Corporate-owned stores segment operates corporate-owned stores in the United States and Canada. The Equipment segment engages in the sale of fitness equipment to franchisee-owned stores. As of July 18, 2016, the company had 1,100 owned and franchised stores in 47 states, including the District of Columbia, Puerto Rico, the Dominican Republic, and Canada. Planet Fitness, Inc. was founded in 1992 and is headquartered in Newington, New Hampshire.

FINANCIAL RATIOS  of  Planet Fitness Cl A (PLNT)

Valuation Ratios
P/E Ratio 105.4
Price to Sales 6.1
Price to Book -17.7
Price to Tangible Book
Price to Cash Flow 21.3
Price to Free Cash Flow 24.7
Growth Rates
Sales Growth Rate 14.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -21.1%
Cap. Spend. - 3 Yr. Gr. Rate 16.5%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity -535.9%
Total Debt to Equity -541.2%
Interest Coverage 5
Management Effectiveness
Return On Assets 4.8%
Ret/ On Assets - 3 Yr. Avg. 6.8%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. 5.1%
Return On Equity -30.1%
Return On Equity - 3 Yr. Avg. 5%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 51.9%
Gross Margin - 3 Yr. Avg. 48.9%
EBITDA Margin 38.6%
EBITDA Margin - 3 Yr. Avg. 34.1%
Operating Margin 30.4%
Oper. Margin - 3 Yr. Avg. 24.9%
Pre-Tax Margin 23.8%
Pre-Tax Margin - 3 Yr. Avg. 17.2%
Net Profit Margin 5.8%
Net Profit Margin - 3 Yr. Avg. 8.3%
Effective Tax Rate 21.1%
Eff/ Tax Rate - 3 Yr. Avg. 14.3%
Payout Ratio 768.2%

PLNT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PLNT stock intrinsic value calculation we used $378 million for the last fiscal year's total revenue generated by Planet Fitness Cl A. The default revenue input number comes from 2016 income statement of Planet Fitness Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PLNT stock valuation model: a) initial revenue growth rate of 9.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.5%, whose default value for PLNT is calculated based on our internal credit rating of Planet Fitness Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Planet Fitness Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PLNT stock the variable cost ratio is equal to 15.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $211 million in the base year in the intrinsic value calculation for PLNT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4% for Planet Fitness Cl A.

Corporate tax rate of 27% is the nominal tax rate for Planet Fitness Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PLNT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PLNT are equal to 85.3%.

Life of production assets of 15.6 years is the average useful life of capital assets used in Planet Fitness Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PLNT is equal to -6.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-131 million for Planet Fitness Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 98.398 million for Planet Fitness Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Planet Fitness Cl A at the current share price and the inputted number of shares is $2.3 billion.

RELATED COMPANIES Price Int.Val. Rating

COMPANY NEWS

▶ Stock Losses Accelerate; Retailers Drop, Planet Fitness Flexes   [10:16AM  Investor's Business Daily]
▶ Planet Fitness beats Street 2Q forecasts   [12:11AM  Associated Press]
▶ After-hours buzz:ELF, LYV, PLNT & more   [Aug-09-17 05:25PM  CNBC]
▶ Planet Fitness Expands to Panama   [08:00AM  PR Newswire]
▶ 2 Fitness Stocks to Shape Up Your Portfolio   [Jul-14-17 06:36PM  Motley Fool]
▶ 3 Best-in-Class Brick-and-Mortar Stocks   [Jul-12-17 06:42PM  Motley Fool]
▶ 150% Earnings Growth Is Lifting This 2015 IPO To New Heights   [Jun-22-17 04:44PM  Investor's Business Daily]
▶ Which Stocks Are Showing Rising Relative Strength?   [May-31-17 12:30PM  Investor's Business Daily]
▶ Planet Fitness Pumps Up Into Buy Zone, But Something's Missing   [11:36AM  Investor's Business Daily]
▶ ETFs with exposure to Planet Fitness, Inc. : May 29, 2017   [May-29-17 12:52PM  Capital Cube]
▶ ETFs with exposure to Planet Fitness, Inc. : May 18, 2017   [May-18-17 01:57PM  Capital Cube]
▶ Fitness Industry Feels No Pain from Online Trends   [May-16-17 12:06PM  Investopedia]
▶ [$$] TSG Sells Off Remaining Planet Fitness Stake   [May-10-17 01:29PM  The Wall Street Journal]
▶ Planet Fitness Stock Lowers After Secondary Offering   [May-05-17 09:48AM  TheStreet.com]
▶ Planet Fitness slides on sizeable secondary offering   [May-04-17 04:41PM  MarketWatch]
▶ Cincinnati firm building two Planet Fitness locations   [06:50AM  American City Business Journals]
▶ Planet Fitness, Inc. Lifts 2017 Earnings Forecast   [May-03-17 04:38PM  Motley Fool]
▶ Earnings Calendar, Analyst Estimates And Stocks To Watch   [09:32AM  Investor's Business Daily]
▶ Planet Fitness tops 1Q profit forecasts   [May-02-17 06:04PM  Associated Press]
▶ 2 Stocks That Could Benefit from the Retail Apocalypse   [Apr-29-17 09:00AM  Motley Fool]
▶ Is It Time to Buy Planet Fitness?   [Apr-26-17 01:33PM  Motley Fool]
▶ Planet Fitness Reaches 10 Million Member Mark   [Apr-04-17 10:30AM  PR Newswire]
▶ Stocks Mixed on Reports Health Care Bill Has Been Pulled   [Mar-24-17 03:42PM  TheStreet.com]
▶ 10.6% Comp Growth Fuels Planet Fitness, Inc. Earnings   [Mar-02-17 06:03PM  at Motley Fool]
▶ Planet Fitness shares fall after outlook fails to impress   [Mar-01-17 04:50PM  at MarketWatch]
▶ Planet Fitness expanding to Hawaii   [Feb-24-17 09:25PM  at bizjournals.com]
Stock chart of PLNT Financial statements of PLNT
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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